Sync Magazine on the outs ?
This morning WWD‘s Jeff Bercovici reported that publisher Ziff-Davis was looking to unload laddie-gadget mag Sync; this afternoon, David Hauslaib at Jossip reports that the magazine has been shuttered without a buyer. Though, says WWD, newsstand sales have been increasing, Ziff-Davis owners Willis Stein & Partners are hoping to sell Ziff-Davis in the coming year and are looking to sweeten the financials by sloughing off “money-losing properties.” The hopes were to find a buyer; but a lot can change in an afternoon. Says Jossip:
It’s 1pm, and do you know where Sync‘s staff is? At a meeting, where they’re being told the magazine is folding. No buyout from Hachette Filipacchi or Conde Nast .. just layoffs.
We, like Jossip, know some good people at Sync and hope an eleventh-hour respite is at hand. You never know. We’ll keep you posted.
UPDATE: The thing, it is done. Jossip reports that Sync staffers are now meeting with HR.
BREAKING: Sync is folding [Jossip]
Memo Pad: Out Of Sync [WWD]
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